Traders sold shares of Wells Fargo & Company (NYSE:WFC) on strength during trading on Wednesday following insider selling activity. $163.72 million flowed into the stock on the tick-up and $269.02 million flowed out of the stock on the tick-down, for a money net flow of $105.30 million out of the stock. Of all stocks tracked, Wells Fargo & Company had the 10th highest net out-flow for the day. Wells Fargo & Company traded up $0.02 for the day and closed at $58.57Specifically, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,482 shares of company stock worth $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

A number of research firms have recently weighed in on WFC. Vetr downgraded shares of Wells Fargo & Company from a “hold” rating to a “sell” rating and set a $53.07 price target on the stock. in a research note on Monday, October 2nd. Instinet reiterated a “buy” rating and issued a $65.00 price objective (up previously from $64.00) on shares of Wells Fargo & Company in a report on Saturday, September 30th. Nomura raised their price objective on shares of Wells Fargo & Company from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Vertical Group began coverage on shares of Wells Fargo & Company in a report on Friday, October 6th. They issued a “sell” rating for the company. Finally, UBS set a $57.00 price objective on shares of Wells Fargo & Company and gave the company a “neutral” rating in a report on Friday, October 6th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $57.25.

The firm has a market cap of $289,120.00, a PE ratio of 13.86, a P/E/G ratio of 1.38 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. sell-side analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is currently 40.31%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at $1,095,000. Brick & Kyle Associates boosted its holdings in Wells Fargo & Company by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth $104,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Wells Fargo & Company by 0.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the last quarter. Finally, Delphi Private Advisors LLC boosted its holdings in Wells Fargo & Company by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares during the last quarter. 75.77% of the stock is owned by institutional investors and hedge funds.

WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/traders-sell-shares-of-wells-fargo-company-wfc-on-strength-on-insider-selling/1748212.html.

About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with Analyst Ratings Network's FREE daily email newsletter.